HONORS ECONOMICS WEEK 12
11/9 - 11/13

CLASS

 Monday 11/9
Schedule		 Tuesday 11/10
Schedule		 Wednesday 11/11
Schedule		 Thursday 11/12
Schedule		 Friday 11/13
Schedule
H Lesson 1 Lesson 2 Lesson 3 X Lesson 4
UNIT 4 CONCEPTS AND VOCABULARY
Unit 4 Notes Unit 4 Powerpoint

Karl marx
Labor theory of value
subsistence
alienation
exploitation
surplus value
 market failure
 inequity
monopoly
BUSINESS CYCLES
externalities
public good
 free rider
asymetric information
socially optimal equilibrium

 John kenneth galbraith
liberal
protective function
distributive function
corrective function
productive function
PROGRESSIVE TAX
REGRESSIVE TAX
PROPORTIONAL TAX
FLAT TAX
NEGATIVE TAX
PROPERTY TAX
SALES TAX
INCOME TAX
TAX INCIDENCE		 MILTON FRIEDMAN
PUBLIC CHOICE theory
CONSERVATIVE
RATIONAL IGNORANCE
SHORTSIGHTEDNESS
DEADWEIGHT LOSS
SPECIAL INTEREST EFFECT
LOBBYING
RENT-SEEKING
LOG ROLLING
PORK BARREL
BUREAUCRATIC CAPTURE
LESSON IN CLASS HOMEWORK
Lesson 1
  • Unit 3 Test
    • Chapter 3, pp. 55-79
 Bring:  Pencil for Unit 2 test

This test will consist of 35 multiple choice questions, 5 definition questions, and one brief essay from the material and concepts in Unit 3.

You will be expected to draw a graph for the essay portion of this test, and write an essay in brief format.

The test will be counted out of 50 points.

Due:  Viewpoint Assignment 2:  Too Many Lawyers?

Graphs must be In Your Own Handwriting; Answers must be In Your Own Words.

This MUST be turned in at the beginning of class BEFORE Tech Time is over--any assignment turned in after class will be penalized 1 point.
Lesson 2
  • Review Unit 3 Test

 
Lesson 3

Bring:  Pencil and Laptop for in-class online simulation.

Read: for discussion purposes the articles on Karl Marx and Das Kapital.
Lesson 4
  • Karl Marx
  • Criticisms of Capitalism
    • Monopoly
    • Externalities
    • Business Cycles
    • Public Goods
    • Inequitable Distribution of Income
    • Asymmetric Information

Read:  Textbook, Chapter 5, pp. 111-120, and the article on John Kenneth Galbraith and The Second Bill of Rights